Money being sent by son employed in singapore
This query is : Resolved
27 July 2015
I WANT TO KNOW WHETHER MONEY SENT BY MY SON WHO IS EMPLOYED SINCE OCTOBER 2014 WHO SENDS MONEY FOR OUR FAMILY EXPENSES IS TAXABLE OR NOT. I WAS EMPLOYED FOR ONE MONTH (APRIL 2014) ONLY AND OBTAINED MY SALARY FROM WHICH TDS WAS DEDUCTED WRONGLY. I HAD BEEN RETIRED FROM 30TH APRIL 2014. I AM DRAWING MY SUPER ANNUATION PENSION AND ALSO PF (EPS)PENSION. BOTH THE PENSION COMES APPROXIMATELY RS.3000/- I WAS REGULARLY FILING MY IT RETURNS UNTIL PREVIOUS FY 2013-14 AND CONTINUE TO FILE EVERY YEAR I HAVE REGULAR SAVINGS OF INSURANCE PREMIUM THROUGH MY CREDIT CARDS. I WANT TO KNOW WHETHER MONY SENT BY MY SON IS TAXABLE OR NOT? PLEASE CLARIFY MY DOUBT.
27 July 2015
Money sent by your son will be treated as gift to relatives which is not taxable.
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